Express Kenya auditor raises red flag as debts exceed assets

An Express Kenya truck. FILE PHOTO | NMG

Logistics firm Express Kenya’s #ticker:XPRS debts have exceeded assets in the half-year to June 2017, making it the third listed company on the Nairobi bourse to slide into negative equity position.

Its current liabilities exceed its current assets by Sh11.9 million in the six-month period, meaning Express Kenya shareholders would not get a cent today if the company is wound up.

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Note: The results are not exact but very close to the actual.